About Us

Who are we?

It’s reassuring to have life insurance protection, but only if you’re confident about who you've chosen to partner with. So, allow us to reassure you with some background about ourselves.

The AA has been guiding life's journey's for over 115 years and prides itself on being one of the most trusted brands in the country. As we've evolved over the years, so too has our offering to New Zealanders. The AA strive to meet the needs of our AA Members and Kiwis alike, by providing valuable insurance products and great service.

Asteron Life logo rgbWe're proud to partner with Asteron Life, who issues and underwrites our life insurance products. Asteron Life is Suncorp New Zealand's life insurance specialist.

How to get advice and buy a policy?

You can only purchase our life and living insurance products through one of our Insurance Advisers. This means the cover put in place is personalised based on your needs and circumstances.

Our Insurance Advisers are qualified to assist you with your life insurances decision making. Using our Asteron Life suite of life and living insurance products, they will help you work out what cover you need and can show you how different policies work together.

Our insurance advisers

  • They do the hard work – to help find the best products from the range we offer, for your budget and needs
  • They focus on what’s important – to help you zero in on what’s really important to you and your loved ones. They can help you identify situations and issues that you may not have considered  
  • They’re qualified - Our Advisers have completed their Level 5 qualification under the New Zealand Certificate in Financial Services
  • They’ll stand by you - to provide customised advice when you need it to help you keep your insurance plans up-to-date as your needs change.

Financial strength rating

Asteron Life Limited has been given an AA- financial strength rating by Standard & Poor’s.

Category Definition
AAA An insurer rated ‘AAA’ has extremely strong financial security characteristics. ‘AAA’ is the highest insurer financial strength rating assigned by Standard & Poor‘s.
AA An insurer rated ‘AA’ has very strong financial security characteristics, differing only slightly from those rated higher.
A An insurer rated ‘A’ has strong financial security characteristics, but is somewhat more likely to be affected by adverse business conditions than are insurers with higher ratings.
BBB An insurer rated ‘BBB’ has good financial security characteristics, but is more likely to be affected by adverse business conditions than are higher-rated insurers.
BB; CCC; CC An insurer rated ‘BB’ or lower is regarded as having vulnerable characteristics that may outweigh its strengths. ‘BB’ indicates the least degree of vulnerability within the range; ‘CC’ the highest.
BB An insurer rated ‘BB’ has marginal financial security characteristics. Positive attributes exist, but adverse business conditions could lead to insufficient ability to meet financial commitments.
B An insurer rated ‘B’ has weak financial security characteristics. Adverse business conditions will likely impair its ability to meet financial commitments.
CCC An insurer rated ‘CCC’ has very weak financial security characteristics, and is dependent on favourable business conditions to meet financial commitments.
CC An insurer rated ‘CC’ has extremely weak financial security characteristics and is likely not to meet some of its financial commitments.
SD or D An insurer rated ‘SD’ (selective default) or ‘D’ is in default on one or more of its insurance policy obligations but is not under regulatory supervision that would involve a rating of ‘R’. The ‘D’ rating also will be used upon the filing of a bankruptcy petition or the taking of similar action if payments on a policy obligation are at risk. A ‘D’ rating is assigned when Standard & Poor's believes that the default will be a general default and that the obligor will fail to pay substantially all of its obligations in full in accordance with the policy terms. An ‘SD’ rating is assigned when Standard & Poor's believes that the insurer has selectively defaulted on a specific class of policies but it will continue to meet its payment obligations on other classes of obligations. A selective default includes the completion of a distressed exchange offer. Claim denials due to lack of coverage or other legally permitted defences are not considered defaults.
R An insurer rated ‘R’ is under regulatory supervision owing to its financial condition. During the pendency of the regulatory supervision, the regulators may have the power to favour one class of obligations over others or pay some obligations and not others. The rating does not apply to insurers subject only to nonfinancial actions such as market conduct violations.
NR An insurer designated ‘NR’ is not rated, which implies no opinion about the insurer‘s financial security.

Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.
The rating scale is available for inspection at every Asteron Life office in New Zealand.

Financial Advice

Our website provides general information about our products and services to help you make choices when it comes to protecting the things in life that really matter. The information doesn't take into account your specific financial situation, needs or goals and is not intended to be financial advice.

Disclosure Statement

The New Zealand Automobile Association Incorporated (NZAA) (FSP41189) holds a Financial Advice Provider (FAP) licence issued by the Financial Markets Authority, meaning we are licensed to provide a financial advice service. For more information please see here.

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*5% AA Member discount available when you provide your valid AA Membership number on application.